I lowered my cost average on my large SPY short buy selling puts on Thursday which expired worthless on Friday and I’ll do the same this week. I still have shorts on DIA QQQ EWC as I remain firmly bearish on the markets in general.

Here are a few charts of widely followed stocks and one momentum names that is displaying very bullish action that I didn’t get to cover in the video.

Here is why you never buy stocks in major downtrends.

Possibly bullish for the economy, but it needs to break above previous highs for me to consider this breakout a success.

Momentum stock to keep your eye on.


3 Responses to “Signals Still Point To More Downside”

  1. abdul Says:

    Watchout for triangle pattern breakout for TEX, both on daily and intraday chart.

  2. Michael Says:

    You were wrong before. You are wrong again. We will hit 1325 and keep on going to over 1400 by year-end. The market doesn’t care about Greece or Italy.

  3. jeff pierce Says:

    I’m always wrong..that’s nothing new. I just don’t stay wrong for very long.

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